Borland Software cuts 2Q view; CEO Fuller resigns

SAN FRANCISCO (MarketWatch) -- Borland Software Corp.
borl
after Thursday's closing bell cut its second-quarter revenue forecast and said it sees a wider-than-expected loss for the period. The company also said that Chief Executive Dale Fuller has stepped down; it has named Chief Operating Officer Scott Arnold as interim CEO. Borland cited pressure from a weaker-than-expected spending environment, particularly in Europe, and deployment products that fell short of expected license revenues as reasons for the revised forecasts. Borland now sees a loss of 24 cents to 26 cents a share, and a pro forma loss of 1 cent to 3 cents a share on revenue of $65 million to $67 million. It previously forecast a loss of 19 cents to 21 cents a share, and pro forma earnings to breakeven to 2 cents a share on revenue of $70 million to $73 million.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.